All Fed Districts Are Equal? Not When It Comes to Job Growth

District size matters, if data from San Francisco to Minneapolis are any guide
Photographer: David Paul Morris/Bloomberg

When John Williams spoke about employment last month, the San Francisco Fed president proclaimed the return of "groovy times." He sees joblessness in the U.S. coming down to about 4.5 percent this year in a sign that the labor market has fully recovered from the Great Recession and its aftermath.

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